2014 (3) TMI 119

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....ajeeve Mehra, ASG with Sh. Mukesh Anand, CGSC, Sh. Kartikey Mahajan and Sh. Aditya Malhotra, Advocates. Ms. Sonakshi, for Ms. Sonia Sharma, CGSC.   ORDER W.P.(C) 2937/2013, C.M. APPL.2034/2014 The petitioner seeks direction for release of its aircraft engine (No.V2500 Sl. No.V12721) [hereafter referred to as 'the engine']. The petitioner had leased a number of aircrafts to M/s. Kingfis....

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....ights and detained the engine under Section 110A. The engine is the subject matter of notice under Section 124(1) of the Customs Act and adjudication on that score is pending. The petitioner argues that the continued detention of the engine is unwarranted. It relies upon certain circulars to say that it is entitled to 98% duty drawback in such eventualities. The Revenue, however, disputes this an....

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....ioration in the functionality of the engine, it would be in the interest of justice to allow it to be released subject to conditions. Accordingly, it is hereby directed as follows: (i) Upon the petitioner furnishing a bank guarantee in the sum of Rs. 8 crores within six weeks from today and depositing Rs. 1 crore with the Customs Department within six weeks from today, the aircraft shall be relea....